Business Segments

The Company has three reportable business segments: Fluid & Metering Technologies (“FMT”), Health & Science Technologies (“HST”) and Fire & Safety/Diversified Products (“FSDP”).

The Fluid & Metering Technologies segment designs, produces and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems and provides flow monitoring and other services for the food, chemical, general industrial, water & wastewater, agriculture and energy industries.

The Health & Science Technologies segment designs, produces and distributes a wide range of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction and drying systems used in beverage, food processing, pharmaceutical and cosmetics, pneumatic components and sealing solutions, including very high precision, low-flow rate pumping solutions required in analytical instrumentation, clinical diagnostics and drug discovery, high performance molded and extruded sealing components, biocompatible medical devices and implantables, air compressors used in medical, dental and industrial applications, optical components and coatings for applications in the fields of scientific research, defense, biotechnology, aerospace, telecommunications and electronics manufacturing, laboratory and commercial equipment used in the production of micro and nano scale materials, precision photonic solutions used in life sciences, research and defense markets, and precision gear and peristaltic pump technologies that meet exacting original equipment manufacturer specifications.

The Fire & Safety/Diversified Products segment designs, produces and distributes firefighting pumps, valves and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications, and precision equipment for dispensing, metering and mixing colorants and paints used in a variety of retail and commercial businesses around the world.

Information on the Company’s business segments is presented below based on the nature of products and services offered. The Company evaluates performance based on several factors, of which sales, operating income, and operating margin are the primary financial measures. Intersegment sales are accounted for at fair value as if the sales were to third parties.



	Three Months Ended March 31,
	2018			2017
Net sales
Fluid & Metering Technologies
External customers	$	232,261		$	216,655
Intersegment sales	72			115
Total segment sales	232,333			216,770
Health & Science Technologies
External customers	220,967			199,575
Intersegment sales	108			104
Total segment sales	221,075			199,679
Fire & Safety/Diversified Products
External customers	159,096			137,322
Intersegment sales	77			125
Total segment sales	159,173			137,447
Intersegment elimination	(257		)	(344		)
Total net sales	$	612,324		$	553,552
Operating income
Fluid & Metering Technologies	$	66,166		$	57,813
Health & Science Technologies	51,806			42,238
Fire & Safety/Diversified Products	39,554			32,626
Corporate office	(20,843		)	(17,006		)
Total operating income	136,683			115,671
Interest expense	11,000			11,552
Other (income) expense - net	(4,449		)	(308		)
Income before income taxes	$	130,132		$	104,427



	March 31, 2018		December 31, 2017
Assets
Fluid & Metering Technologies	$	1,138,501	$	1,101,580
Health & Science Technologies	1,339,090		1,323,373
Fire & Safety/Diversified Products	771,702		744,515
Corporate office	236,166		230,160
Total assets	$	3,485,459	$	3,399,628